Tuesday, February 4, 2014

President Obama Authorizes New Roth myRA Retirement Account

The myRA (rhymes with IRA) is a new workplace retirement savings account discussed by President Obama in the State of the Union address, and subsequently authorized by executive order. The administration hopes that employers who currently don't offer a workplace retirement plan will make myRAs available to their employees.  The myRA is a regular Roth IRA with some special features. Your contributions are made on an after-tax basis, through payroll deduction.  

Click here to read the full article
Click here to read the White House Fact Sheet 
Click here to read the Presidential Memorandum to the Treasury